Happy Tuesday everyone!

In Jeddah, Dar Global has unveiled Trump Plaza, a $1 billion anchor project within a Manhattan-inspired urban district, underscoring the Kingdom’s real estate push. Meanwhile, the Public Investment Fund is at the center of the largest leveraged buyout in history — a $55 billion deal to take Electronic Arts private alongside Silver Lake and Affinity Partners. In Dubai, India’s largest private lender, HDFC Bank, has been barred from onboarding new clients after compliance lapses, highlighting the region’s tightening regulatory oversight.

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Markets

Trump Plaza Jeddah To Anchor $1 Billion Manhattan-Inspired Development

🔹 What Is It About

Dar Global has announced the launch of Trump Plaza Jeddah, a $1 billion luxury project set within Dar Al Arkan’s new 1 million sqm “Manhattan” urban development. Located along King Abdulaziz Road near the Corniche and Red Sea Mall, the 28,000 sqm site will feature premium residences, serviced apartments, offices, townhouses, and curated retail and dining, anchored by a Central Park-inspired green spine.

🔹 Why It Matters

The project represents Dar Global’s second collaboration with The Trump Organization, following Trump Tower Jeddah in 2024. It underscores Jeddah’s transformation into a high-value investment hub and reflects Saudi Arabia’s broader efforts under Vision 2030 to attract global capital while enhancing quality of life. Trump Plaza Jeddah is also built on a record-value land transaction, further highlighting its symbolic and financial significance.

🔹 What’s Next

As the anchor of the wider Manhattan masterplan, Trump Plaza Jeddah is expected to set the tone for four distinct districts connected by landscaped boulevards. With a focus on walkability, sustainability, and integrated living, the development aims to redefine urban design in the Kingdom. Once complete, it is positioned to become one of Saudi Arabia’s most iconic real estate destinations.

Electronic Arts Agrees to $55 Billion Buyout by Saudi Arabia’s PIF, Silver Lake and Affinity Partners

🔹 What Is It About

Saudi Arabia’s Public Investment Fund (PIF), alongside Silver Lake and Jared Kushner’s Affinity Partners, has agreed to acquire Electronic Arts in a record $55 billion leveraged buyout. The deal, valued at $210 per share, is the largest of its kind, eclipsing the 2007 TXU transaction. Backed by $20 billion in debt financing from JPMorgan, the consortium is taking the Redwood, California-based gaming giant private amid slowing industry growth.

🔹 Why It Matters

The acquisition marks PIF’s biggest foray into interactive entertainment, building on earlier stakes in EA, Scopely, and other gaming firms. For Saudi Arabia, it underscores an aggressive push to diversify its economy under Vision 2030 while positioning itself at the center of global media and gaming. For EA, which has struggled with slowing demand, layoffs, and shifting consumer habits, private ownership promises relief from quarterly earnings pressures and a chance to refocus on long-term franchises like EA Sports and Battlefield.

🔹 What’s Next

The buyout, which requires regulatory approval, is set to reshape the gaming landscape and could accelerate further consolidation in the $178 billion industry. EA’s upcoming October release of Battlefield 6 is expected to boost revenues, offering early momentum for the company under new ownership. The deal also signals Wall Street’s willingness to support mega-mergers under a deal-friendly Trump Administration, potentially paving the way for more large-scale transactions despite recessionary risks.

Indian Bank Giant HDFC Banned From Adding New Clients In Dubai After Probe

🔹 What Is It About

HDFC Bank, India’s largest private lender, has been barred from onboarding new customers at its Dubai branch after a regulatory probe found lapses in compliance. The Dubai regulator flagged the bank for offering financial services to local clients outside the Dubai International Financial Centre framework. The restriction, effective Sept. 26, limits HDFC’s ability to expand in one of the world’s fastest-growing financial hubs.

🔹 Why It Matters

The ban highlights regulatory scrutiny in Dubai’s financial sector and poses reputational risks for HDFC, which has already faced fallout from the 2023 Credit Suisse AT1 bond controversy. Although the lender said its Dubai operations are not material to overall performance, the case underscores the challenges global banks face in balancing growth with strict compliance in international markets.

🔹 What’s Next

HDFC Bank says remedial compliance measures are underway, with the goal of lifting restrictions. Its DIFC branch had onboarded 1,489 customers as of Sept. 23, but future expansion will depend on regulatory approval. While shares in Mumbai rose slightly after the news, investors will watch closely for updates on compliance progress and potential impacts on HDFC’s international ambitions.

👨‍💻From Smashi Business’ Desk

• UAE Minister Showcases DIFC’s 20-Year Rise from Sand to Global Financial Hub.

• Saudi Arabia Targets 150M Visitors by 2030 with Bold New Tourism Campaign.

• Dubai Rises to 11th Globally, 4th in FinTech as $4.2B Fuels DIFC’s Financial Power.

• Global Ventures’ Noor Sweid Urges Founders: Stay Grounded, Don’t Let Hype Cloud Your Vision.

• DAMAC’s Hussain Sajwani: Nations Leading in AI Will Own the Future.

🔍In other news…

• Abu Dhabi approves $11.4 billion expansion of strategy to enhance quality of life

• Kuwait Airways restructures capital to write off nearly $1 billion in losses

• Jordan approves citizenship for foreign investors

• Dubai’s ‘tallest hotel’ wants to be more than just a world record

• Saudi culture sector seeing 50,000 investors, says minister Al-Falih 

• Dubai to Ras Al Khaimah in 15 minutes: RAK signs initial pact to get its first air taxi by 2027

🏦 Crypto Corner

• Crypto data reveals UAE has mined bitcoins worth $700m

• Michael Saylor — Executive Chairman of MicroStrategy and one of Bitcoin’s most vocal corporate advocates — will make his first-ever appearance in the UAE at Bitcoin MENA in Abu Dhabi.

• Hut 8, part of a American BTC which is partially owned by Donald Trump Jr. and Eric Trump, Gets Approval to Operate in Dubai Financial Hub.

• Abu Dhabi Judicial Department now accept AE Coin.

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